The recent announcements in the media that the Somens majority shareholders in Access Kenya sold most of their shares in the firm is dis heartening while the minority not aware of such movement where left holding the stock, the stock is turning out to be a monkey posting trading lows each day on the Nairobi Stock Exchange (NSE), the same thing happened to Uchumi, Directors and major Shareholders sold their stakes as the retailers was on its way to its death bed, well the public is still holding into their share certificates years after the retailer was de listed, we hope Uchumi will be back to the bourse soon.

I think its high time the NSE or Capital Markets Authority (CMA) started informing the public when such activities occurs because i believe such actions most of the time carries material information with them. Most of this director seat on the boards of this Companies and are privy or they know the financial situatian of this Firms, something which the common investor does not know.

Entire article here http://contrarianinvestingkenya.blogspot.com/

I agree. They sell under the privilege of insider info. Its like the Sri Lankan facing charges in US, it's never fair to the common investor.

Where is the link about the Somens selling most of their shares?

I thought the capital market authority is supposed to vet the majority shareholders whenever they want to sell their shares. and BTW I have also heard that James Mwangi has been selling his shares in Equity, is it true or just a rumour and if true Why are C.E.O's reducing their holding? Do they know what we don't know? C.M.A needs to be careful to prevent a repeat of the Uchumi collapse.

@thedeal - Well, they made the right move [for themselves]...

[quote=the deal]@Hisah the JSE through SENS does disclose dealings by the director, the NSE should do the same http://www.moneyweb.co.z...w/view/mw/en/page296708[/quote]

They do exist also in US & Europe e.g. UK (FSA). But if you look at the number of insider lawsuits against firms and regulators especially CFTC (US), you'll know that they are just sugar coats. Kila soko iko na wenyewe otherwise Madoff would be unheard of and many more...
The house always wins even with rules in place

I think CMA is about to purge into this practice by making sure the real faces behind nominee accounts are known I think here is where insider trading really happens.